Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Anadarko Petroleum Corp., consolidated cash flow statement
US$ in millions
Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
- Net income (loss)
- Net income shows a significant downward trend from a positive $2,445 million in 2012 to negative values in subsequent years, reaching a low of -$6,812 million in 2015 before slightly improving to -$2,808 million in 2016. This indicates substantial financial challenges over the period.
- Depreciation, depletion, and amortization
- These non-cash expenses moderately increased from $3,964 million in 2012 to a peak of $4,603 million in 2015, followed by a slight decrease to $4,301 million in 2016, reflecting ongoing asset use and potential adjustments to asset valuations.
- Deferred income taxes
- Deferred income taxes fluctuated significantly, starting positive at $164 million in 2012, dropping to negative figures in 2014 through 2016, with a notable large negative value of -$3,152 million in 2015, possibly linked to changes in tax positions or losses carried forward.
- Dry hole expense and impairments of unproved properties
- Expenses in this category were volatile, initially high at $1,544 million in 2012, decreasing in 2013, rising again in 2014 and peaking at $2,267 million in 2015, before declining sharply to $613 million in 2016, suggesting varied exploration risks and impairment charges.
- Impairments
- Impairments showed a marked increase, escalating from $389 million in 2012 to a substantial $5,075 million in 2015, with a sharp decrease to $227 million in 2016. This spike aligns with the net loss trend and suggests significant asset write-downs during the mid-period.
- (Gains) losses on divestitures, net
- Gains and losses on divestitures fluctuated, with a substantial gain of $4,968 million in 2014 indicating asset sales activity, contrasting with losses in 2015 and gains in 2016, reflecting strategic asset management.
- Loss on early extinguishment of debt
- Recorded only in 2016 at $155 million, indicating a cost related to debt restructuring or repayment.
- Total (gains) losses on derivatives, net
- This item varied between gains and losses across years, with notable negative values in 2012 and 2013, and positive amounts in 2014 and 2016, indicating fluctuating impacts of derivative financial instruments on earnings.
- Operating portion of net cash received (paid) in settlement of derivative instruments
- Cash flows from derivatives decreased substantially from $685 million in 2012 to $85 million in 2013, before fluctuating around mid-hundreds in later years, suggesting changes in hedging or trading activities.
- Other
- Other operating items remained relatively steady around $230 to $340 million, indicating consistent minor adjustments or miscellaneous expenses.
- Tronox-related contingent liability
- This liability was highly variable, with negative and positive swings including a large positive adjustment in 2014 ($4,360 million) and a significant negative adjustment in 2015 (-$5,210 million), possibly reflecting legal or contingent settlement reversals.
- Changes in assets and liabilities
- Changes fluctuated widely, peaking positively at $4,489 million in 2014 and strongly negative at -$5,435 million in 2015, reflecting large working capital movements impacting cash flows.
- Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
- These adjustments increased steadily from $5,894 million in 2012 to a peak of $10,029 million in 2014 before decreasing markedly in 2015, indicating changing non-cash charges and working capital effects on cash flow reconciliation.
- Net cash provided by (used in) operating activities
- Operating cash flow remained healthy and positive through 2014, with a peak of $8,888 million in 2013, but turned negative in 2015 at -$1,877 million, partially recovering to $3,000 million in 2016, implying operational challenges in 2015 with some recovery in subsequent year.
- Additions to properties and equipment
- Capital expenditures were substantial throughout, generally increasing from $7,242 million in 2012 to $9,508 million in 2014, then decreasing significantly to $3,505 million in 2016, reflecting reduced investment likely due to financial constraints or strategic shifts.
- Acquisition of businesses
- Acquisitions peaked in 2014 with $1,527 million spent, negligible in 2015, and rising again in 2016 to $1,740 million, suggesting occasional strategic growth initiatives amidst other operational challenges.
- Divestitures of properties and equipment and other assets
- Divestitures showed a substantial spike in 2014 at $4,968 million, comparatively higher than other years, indicating significant asset sales activity correlating with gains on divestitures noted.
- Net cash used in investing activities
- Outflows from investing activities were high early in the period, reaching -$8,216 million in 2013, then moderated to -$2,762 million in 2016, consistent with the reduction in capital expenditures and divestitures.
- Borrowings, net of issuance costs
- Borrowing activity increased steadily from $1,042 million in 2012 to $6,042 million in 2016, reflecting increased reliance on debt financing over time.
- Repayments of debt
- Debt repayments also escalated over the period, peaking at $6,832 million in 2016, suggesting active debt management with both borrowing and repayment increasing substantially.
- Dividends paid
- Dividends rose steadily from $181 million in 2012 to $553 million in 2015 before sharply dropping to $105 million in 2016, likely reflecting efforts to conserve cash in response to financial pressures.
- Issuance of common stock, including tax benefit on share-based compensation awards
- Stock issuance was generally modest until 2016, which saw a significant increase to $2,188 million, indicating an effort to raise equity capital in that year.
- Sale of subsidiary units
- Sales of subsidiaries remained relatively stable, with a notable low in 2015 ($187 million) and higher levels in earlier and later years, supporting overall divestiture activities.
- Net cash provided by (used in) financing activities
- Financing cash flows varied, turning from negative in 2012 (-$1,659 million) to positive and fluctuating amounts thereafter, reaching $2,008 million in 2016, demonstrating mixed financing strategies with increased stock issuance and debt activity.
- Net increase (decrease) in cash and cash equivalents
- Cash levels fluctuated significantly, with increases in 2013 and 2014 reaching $1,227 million and $3,671 million respectively, followed by a steep decline in 2015 of -$6,430 million, then a recovery of $2,245 million in 2016, reflecting the combined impact of operational, investing, and financing cash flows during the period.
- Cash and cash equivalents at end of period
- Ending cash balances mirrored the trends in cash flows, increasing to a peak of $7,369 million in 2014 before sharply dropping to $939 million in 2015, and recovering to $3,184 million in 2016, indicating liquidity was affected notably during these years.